The ambitious idea Terrafugia had might finally see the light of the day as Geely acquired the company and confirmed that they will release a flying car by 2019.

The Chinese company named Zhejiang Geely which already has a share in Volvo, Lynk & Co., and Lotus has come forward to own the American company so as to give it a boost in terms of production and bring the product to the retailer market.

Terrafugia was originally founded in 2006 by a group of MIT engineers in Boston and wanted to build a flying car that could bypass traffic and other issues usually found on the average round. Besides, it was a hybrid vehicle which could be driven on the road as well.

Geely is not only purchasing the company but has also hired some of the top executives from multiple brands so as to make the idea into reality. The first ever product supposed to hit retailer is named the Transition which will look like a private jet but will have foldable wings, wheels and can accommodate two people at once.

Passengers can unfold the wing in just a minute but folding it helps them drive through the highway without disturbing other vehicles as the size of the flying car becomes the same as an average sedan. On air, it promises 400-mile flying range at about 100mph speed.

An advanced and faster car/flight named Transition TF-X is set for launch in 2023. The first model, the Transition costs $10,000 to pre-order right now and the final price on launch will be $279,000 making it an ideal choice for multi-millionaires who want something to make themselves stand out from the crowd, on air!